Recommended Books/Videos etc.
Recommended Books/Videos etc.
Book/Website + General Description
-This book has been highly recommended by Warren Buffet himself as Benjamin Graham was actually his professor (I believe when he went to Columbia University in NY). This is definitely for everyone since it teaches the basics on Intrinsic Value, statistics on Hedge Funds and why you're better putting your money else where, and general misconceptions about the stock market.
2. Money- Master the Game- Tony Robbins
-You've probably seen or heard of this Tony Robbins. He's been on several TV Shows, radio broadcasts etc, which brings up a bigger question on how he's actually making his money but truth be told his book is definitely worth reading. He gives insight on hidden fees of mutual funds, index fund investments, statistics on beating the market, and where to have faith and where to be skeptical in the finance industry is a big help I believe to the "average investor or retail trader". Tony has interviewed several of the worlds greatest investors and traders so he gives information on their perspectives and trading techniques that made them their fortunes.
3. Snowball Effect- Alice Schroeder
-2008 Financial times and Goldman Sachs best book of the year for a reason
4. Investopedia- http://www.investopedia.com/
-Gives everything you need to know in any market, accounting information, strategies, options, forex, commodities. Literally everything.
5. Preston Pyshs'- Youtube Channel
- Gives good insight into how to actually look into a companies financial statements and make a proper valuation on it as well as Warren Buffets methods.
6. Dough.com
-Teaches you practically everything you'll need to know in options trading from the Greeks, to basic and complex strategies. Plus Tony Battista who has been trading since 1983 streams live every market day from market opening to close mon-friday (US Market). If you have never heard of options definitely check them out they give you a great way to hedge off positions and limit your risk. Tony's Motto is to "trade small and trade often" so if that sounds more like your style definitely check it out.
7. Thinking, Fast and Slow - Daniel Kahneman
-As I have not read all of the book yet, I still would recommend it as it is very interesting the way the author explains the mind, and how it works. So far what I have not read I cannot particularly plug it directly into my thoughts on the market but it is a very interesting read..
8. Milton Friedman
-Read anything that he has written (I have not but plan to...already bought and am waiting to finish other books to start his book Capitalism and Freedom) I have though seen all of the youtube videos of him, which are a lot and are not short but are definitely worth it as he might be one of the cockiest person I have ever seen when talking about the macro economy etc (my point he's the only entertaining finance guy out there). https://www.youtube.com/watch?v=THAaIZmxfNA
9. Babypips.com (Foreign Exchange)
-This website is great if you'd like to learn about the foreign exchange market. It even gives a whole educational program where you complete each course then move on. These study sheets or info they give you range from how the market works, basic strategies, correlations to certain currencies and commodities or imports/exports of countries, fundamental technical and sentimental trading techniques to even which brokerages are reliable. In other words this is a great website to start out with on the basics of the forex market and where to go afterwords if you'd like to trade.
10. The Alchemy of Finance- George Soros
-(I need to reread) This is slightly more advanced for possible forex traders or for anyone who is trying to get a new perspective on the markets and certain correlations they might have. As an example George Soros' Reflexivity Theory: Visualize a slight increase in an index (say SandP) by pure speculation for the day due to a possible interest rate cut (lower Interst rate, increased loans taken since it's cheaper to borrow, increased spending, credit cycle builds) so as the index market takes a possible substantial increase the USD strengthens due to the increase which in turn the index increases even higher due to speculation of a stronger economy from the USD strengthening. Now you have two markets bouncing off of eachother into pure speculation which eventually leads to market break downs or busted bubbles. I probably skewed that entirely so if you'd like to read about the reflexivity theory entirely just click on this link.
http://www.investopedia.com/articles/investing/120913/george-investing-soros-way.asp
11. Alpha Masters - Maneet Ahuja
-This book gives a general overview of what some of the top hedge fund managers or "alpha masters" do to create alpha or profit and their perspectives on the market. I wouldn't say this is particularly for the retail trader or average investor more so if you have a general interest in working with hedge funds/investment banks in the future.
12. Market Wizards- Jack D. Schwager
- There are several market wizard books. Jack D. Schwager traveled and interviewed some of the most profitable traders and gives insight on their outlook/trading style. (Definitely haven't read all of them)
13. Ray Dalio's -"How the Economic Machine Works"
-Ray Dalio has recently stepped down from Co-CEO of BridgeWater Capital but was the CEO up until now (2017). Ray Dalio used to run the worlds largest hedge fund estimated 165 billion under management. He has recently posted a video of his general idea on how the economy works which is very informative and easy to understand which can give you a great insight into the general economy and the possible future for the whole economy. Here's the video https://www.youtube.com/watch?v=PHe0bXAIuk0
14. Peter Thiel- "Zero to one"
-Peter Thiel is a venture capitalist who invested in Facebook, cofounded paypal and even started Palantir Technologies. Throughout his book Zero to One Peter Thiel talks of investing or even starting a monopolistic company as if these particular companies are the only true winners that "collect rent" for a short time period until competition catches up. Half way through with this book so far and it's an awesome read.
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